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The curious case of Infibeam vs auditor

The audit arm of EY would probably be happy if Infibeam shareholders give their stamp of approval to the proposal

Shyamal Majumdar

Infibeam Avenues has called an extraordinary general meeting on May 30 to ratify its board’s decision to fire the auditors, SRBC & Co. The matter will then be put up for approval of regulatory authorities. The audit arm of EY would probably be happy if Infibeam shareholders give their stamp of approval to the proposal.  That’s because SRBC apparently wanted to resign much earlier, but the market regulator did not allow it to do so for reasons unknown. In that context, SRBC must be hoping that the Infibeam EGM hastens its exit. The reason is obvious: The trust factor ...